Bharat Highways Infrastructure Investment Trust InvIT

Bharat Highways Infrastructure Investment is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India. The Trust is authorized to carry on the activities of an infrastructure investment trust under the SEBI InvIT Regulations.

The Company’s portfolio consists of seven roads, all of which are operated on a HAM basis in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh. These roads are operated and maintained based on 

concession rights granted by the NHAI and are owned and operated by the Project SPVs, which are currently wholly owned by GRIL.

InvIT has also entered into a ROFO agreement with GRIL under which GRIL has granted InvIT a right of first refusal over certain other assets owned and being developed by GRIL.

The Trust has been assigned a provisional rating of CRISIL AAA/Stable (Reaffirmed) from Crisil Ratings Limited, a provisional rating of CARE AAA, Stable from CARE Ratings Limite and a provisional rating of IND AAA/Stable from India Ratings and Research.

 

Bharat Highways Infrastructure Investment Trust Financial Information (Restated)

Bharat Highways Infrastructure Investment Trust’s revenue decreased by -3.92% and profit after tax (PAT) rose by 738.34% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets5,916.806,056.285,536.404,943.95
Revenue388.541,537.471,600.182,170.39
Profit After Tax101.35527.0562.87149.45
Amount in ₹ Crore

Objects of the Issue (Bharat Highways InvIT IPO Objectives)

The Net Proceeds will be utilized by the InvIT towards the following objects:
  1. Providing loans to the Project SPVs for repayment/ pre-payment, in part or in full, of their respective outstanding loans (including any accrued interest and prepayment penalty); and
  2. General purposes.

Bharat Highways InvIT IPO Timeline (Tentative Schedule)

Bharat Highways InvIT IPO opens on February 28, 2024, and closes on March 1, 2024.

IPO Open DateWednesday, February 28, 2024
IPO Close DateFriday, March 1, 2024
Basis of AllotmentMonday, March 4, 2024
Initiation of RefundsTuesday, March 5, 2024
Credit of Shares to DematTuesday, March 5, 2024
Listing DateWednesday, March 6, 2024
Cut-off time for UPI mandate confirmation5 PM on March 1, 2024

SHARIAH SCREENING for - Bharat Highways Infrastructure Investment Trust InvIT

BUSINESS SCREEN

FINANCIAL RATIOS

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